Biogen resurrects Alzheimer's drug; shares jump 37% [CNBC]
EISAI CO S/ADR (ESALY)
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Source: CNBC
Biogen resurrects Alzheimer's drug; shares jump 37% VIDEO 3:31 03:31 Cramer: Biogen's Alzheimer's treatment would be 'the biggest drug ever' Squawk on the Street The drugmaker's shares soared 37% in premarket trade, erasing most of their losses this year that came after it abandoned two studies for the drug. Biogen and partner Eisai Co Ltd had in March decided to end two late-stage trials of aducanumab based on a so-called "futility analysis" of data, which revealed the trials had little hope of succeeding. The failure of the treatment, which was widely expected to be Biogen's next blockbuster treatment, spurred demands on Wall Street for it to spend more on product acquisitions at a time when its peers have splurged on billions of dollars in deals. The company said more data became available after the two studies were discontinued in March, resulting in a larger dataset and a new analysis showed that one of the trials met the main goal, while the other did not. Amyloid plaques accumu
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